By Cam Hui
I reviewed many of the world’s stock market charts this weekend and what I found were numerous Dark Crosses where the 50-day moving averaged and crossed under the 200 day-day moving average. These are ominous signs indicating the overall trend has turned south. In fact, most Dark Crosses had occurred in either June or July and US equities were one of the last markets to experience a Dark Cross. In fact, only one stock market, the Russian one, hadn’t seen a Dark Cross marking a technical downtrend but it had experienced a pattern of broken support.
To start our tour around the world, let’s start with the US market. This market only experienced its Dark Cross last week:
